Firan Technology Group Stock Earnings Reports

FTG reported a record Q2 2026 across multiple metrics: bookings of $86.7M (up 89% YoY) producing a book-to-bill of 1.64:1, revenue of $52.7M (up 8.2% YoY), adjusted EBITDA of $10.5M (up 20% YoY) and adjusted net earnings of $5.1M (up 44% YoY). Backlog rose to $193.5M (up ~30% y/y) with ~66% expected to convert to revenue within 12 months. Free cash flow was positive $2.7M and net debt fell to $2.9M (roughly 0.1x trailing EBITDA). Strength came from both Aerospace (sales +21% YoY) and Circuits (sales +1.9% YoY) with notable wins including orders tied to two classified U.S. defense programs, ramping deliveries to China’s C919 and De Havilland’s 515, and resumed licensing and product sales from the FTG Aerospace Calgary (formerly FLYHT) business. Management highlighted ongoing capacity and staffing work (notably in Minnetonka and Toronto debottlenecking via equipment orders), tariff exposure mitigation by shifting non‑U.S. orders to non‑U.S. sites, and geographic expansion (new aerospace facility in Hyderabad, India) to capture defense and aerospace growth. Risks/caveats include equipment lead times, staffing and certification timelines, ongoing U.S. tariff impacts on input costs (material cost inflation and AI-driven PCB demand), and uncertainty in the timing and magnitude of classified program ramps. Management continues to pursue further defense and international growth, potential M&A in Europe/India, and commercial ramp opportunities with Airbus and other OEMs.